Chinese spend AU$5.3 Billion Dollars on Australian real estate property
Posted
in Updates
@ Dec 13th 2013 6:33pm
- By Garry Larden
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Chinese investors have spent approximately Aus$5.3 Billion Dollars on Australian real estate in the financial year 2012/13
And according to the Foreign Investment Review Board, Mainland Chinese investment has escalated by 75% over the past two years.
The USA is the most popular for the Chinese investor with Australia the second most popular location to buy property of all description from residential apartments and homes, to commercial and industrial buildings and land, through to rural land.
Sydney, Brisbane, Melbourne, and the Gold Coast are the most popular, and most searched areas on the internet by Chinese buyers
With the Australian Dollar at .89c today, and the Reserve Bank of Australia wanting it even lower, there is a very good chance that this will encourage the overseas buyers to strengthen in the near future.
